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Submission + - Nokia's Indian Factory Will Not Be Part Of Microsoft Deal, Due To Tax Dispute

rjmarvin writes: Nokia’s Chennai, India factory, its largest manufacturing center worldwide, will not be part of Microsoft’s Devices and Services acquisition http://sdt.bz/70118 set to close on Friday, due to an tax dispute in India. According to Reuters http://www.reuters.com/article... , Nokia will operate the factory under a service contract for Microsoft until the dispute is resolved. Before it transfers the factory to Microsoft, Nokia must agree to the conditions set by the Indian court. The final terms of the tax settlement have not yet been reached, but the initial tax bill levied by the Indian government http://sdt.bz/66468 , consisting of eight years of back taxes and penalties, was for $3.4 billion.
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Nokia's Indian Factory Will Not Be Part Of Microsoft Deal, Due To Tax Dispute

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